Anant Raj Expects 40% Profit In Fiscal Year 09

Anant Raj Industries Ltd expects profit for the year ending March 2009 to rise 30% to 40%, helped by sales of two residential projects and robust rental income.

The real-estate firm, which has most of its projects in northern India, has said it will focus on growing income from rentals. The firm reported a profit of 4.37 billion rupees for 2007/08.

Executive Director Amit Sarin told, “We will get 10 million rupees a day in rentals by the end of this quarter. We expect 20 million a day from the next quarter”.

Sarin said that During the April-June quarter, Anant Raj’s profit more than doubled to 1.52 billion rupees, helped by the sale of a minority stake in a mall.